secwatch.observer — SEC 8-K summary
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Issuer:     NIOCORP DEVELOPMENTS LTD (NB)
CIK:        0001512228
Form:       8-K
Filed at:   2024-09-11T23:59:59+00:00
Accession:  0001539497-24-001909
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NioCorp secures up to $2M loan from CEO Mark Smith at 10% interest, secured by all assets
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- CEO Mark Smith provides non-revolving credit facility of up to $2M; initial drawdown of $33,000 on Sept 11, 2024.
- Interest rate 10% per annum, computed on 360-day year; maturity date June 30, 2025.
- Loan secured by all company assets under general security agreement; establishment fee 2.5% per drawdown, early payment fee 2.5%.
- Related-party transaction approved by Audit Committee and disinterested directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512228/000153949724001909/0001539497-24-001909-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512228/000153949724001909/n2574_x218-8k.htm
  HTML page:      https://secwatch.observer/filing/0001539497-24-001909

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